Are we seeing a recovery in small/mid-size transactions in the traditional industrial and B2B distribution sectors during the second quarter of 2024? This should be confirmed in the coming months.
In the industrial supplies distribution sector, AXEL JOHNSON INTERNATIONAL, a large Swedish industrial group, acquired on May 3rd, 2024 a majority stake in Rodamientos y Servicios S.L. and Royse ISM Servicios Integrales, S.L., one of the largest independent distributors of power transmission products in Spain, with sales of approx. €50m.
In the personal protective equipment sector, we have identified some interesting transactions:
- Announcement by LAKELAND in April 2024 of the acquisition of the fire and rescue businesses of LHD Group Deutschland GmbH (LHD) and its Hong Kong and Australian subsidiaries in a cash transaction of USD16.7m. LHD is a German leader in equipment, accessories and services for firefighters and generates a turnover of approx. USD27m;
- Announcement by ANSELL in April 2024 of the acquisition of 100% of KIMBERLY CLARK's PPE assets (mainly gloves, protective clothing and protective glasses), for an amount of USD640m;
- Announcement in early May 2024 by KARAM SAFETY, a Indian manufacturer of personal protective equipment, of the acquisition of MIDAS SAFETY INDIA, an Indian manufacturer of protective gloves generating approximately €12m in turnover.
Finally, rumors concerning the sale of HONEYWELL's PPE activities have been recently relayed by certain financial media...
